Bequest / Living Trust
If you would like to make a charitable gift to Doane through a will, we recommend you meet with your attorney to discuss exactly what you want to do. Please give us the opportunity to thank you by letting us know of your plans.
The specific legal bequest language for Doane College is: "I, [name], of [city, state, ZIP], give devise and bequeath to Doane College, Crete, Nebraska [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."
We honor all bequest gifts and intentions in our Heritage Society; however, if you prefer to remain anonymous, your gift can be kept confidential. Your commitment to Doane College's future is greatly appreciated.
Specific bequest. If you wish to honor a certain individual with a certain gift this is a specific bequest. A good example might be the family heirloom bedroom set and you know granddaughter Meredith has a strong attachment. You specify in your will that Meredith will receive the bedroom set.
General Bequest. This is normally in the form of a designated amount of money for a designated individual or charity. If there is not enough cash in the estate, other assets most be liquidated to provide this bequest. You may wish to leave Doane $75,000; however there is only $50,000 in cash. The executor /personal representative would liquidate other assets to generate the cash necessary to meet the cash demands of the will.
Contingent bequest. As the name implies the bequest can only be honored if specific conditions are met. This can be used to name a secondary beneficiary should a primary beneficiary fail to survive you. An additional example might be that you require a grandchild to attain certain educational requirements before the bequest is honored.
Residuary Bequest. The remainder of your estate, after you have taken care of the specific and general bequests is termed the residual. You then designate a beneficiary for this residual. A good technique in this type of plan is to use percentages when naming beneficiaries thus making the residual an easy calculation.
Should you consider including Doane College in your estate plans the following may be of interest.
Unrestricted bequest. Your gift to the college permits the college to use the money for programs and items that it determines to be of highest priority.
Restricted bequest. You instruct the college as to your desires on how the money should be utilized. Examples could be: the endowment, a specific scholarship program or to a specific program or area of study. You may wish to visit with us prior to restricting the use to ensure that your desires can be met.
Honorary or memorial bequest. Your gift is intended to honor or be a memorial to someone. Please contact the college to ensure we can carry out your wishes.
Endowed bequest. Your gift requires that we hold the funds in perpetuity and only utilize the interest. The college board of trustees determines how the money is invested and what percentage of the interest will be utilized. You may determine how this interest is to be utilized, please contact us to make sure we can fulfill your wishes.
If you would like to receive more information, contact Dan Meyer at 402.826.8237,dan.meyer@doane